tZERO Reveals Support for Aspen Hotel Digital Currency

tZERO, a self-described “leader in financial innovation and liquidity for private companies,” has revealed that what they call secondary trading is now available for the St. Regis Aspen digital security, according to a press release from the group.

This, of course, is available on the tZERO ATS platform, making it the first third-party security available there. That, and this is “the first digital security trading on a regulated platform that utilizes the Tezos Blockchain,” the release also states.

As of now, these assets represent around 19% of ownership within the resort based in Aspen Colorado.

Speaking on the matter is Saum Noursalehi, the CEO of tZERO, who said:

“We are thrilled to see the St. Regis Aspen digital security trading on the tZERO trading platform. Digitizing and trading private securities like Aspen will be the future model that will enable broader investor access, provide liquidity optionality, and reduce cost of capital.”

This asset is managed by Aspen Digital, Inc., which is managed by a New York-based real estate asset management firm called Elevated Returns, LLC.

Also sharing some thoughts on the matter is Stephane De Baets, the President of Elevated Returns, who said:

“We view today’s announcement as an important step towards unlocking liquidity to quality real estate projects, which has the potential to open the door to a $60 trillion commercial real estate market. tZERO has distinguished itself from its peers as the leading liquidity platform for private assets, and we are excited to provide investors with a venue to trade the St. Regis Aspen digital security.”